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U.S. Bank Business Cash Rewards World Elite™ Mastercard® review

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Among lucrative features: no annual fee, a solid signup bonus, an intro purchase APR and strong cash back.

  • Get this card if you want an excellent cashback card — with no annual fee.
  • Pick something else if you want travel rewards or a larger signup bonus.
  • Apply with an excellent credit score of 740 or higher.

$500

Welcome offer

Up to 3%

Cash back

$0

Annual fee

0%

Intro Purchase APR

for the first 15 billing cycles (then 13.99% to 24.99% variable)

Details

Product NameU.S. Bank Business Cash Rewards World Elite™ Mastercard®
Card typeMastercard
Annual fee$0
Purchase APR0% intro for the first 15 billing cycles (then 13.99% to 24.99% variable)
Balance transfer APR0% intro for the first 15 months (then 13.99% to 24.99% variable)
Balance transfer fee$5 or 3% of the transaction, whichever is greater
Cash advance rate25.99% variable
Cash advance fee$10 or 5% of the cash advance amount, whichever is greater
Penalty APR29.99% fixed
Foreign transaction fee3% of the transaction value
Interest free periodUp to 30 days
Late payment feeUp to $39
Returned payment fee$35
Additional cardholder fee$0
Rates & feesrates & fees

Expert review

Kevin Joey Chen

Review by


Kevin Joey Chen is a credit cards, banking and investments writer who has written nearly 500 Finder articles. He's passionate about helping you get your finances in order and expertly navigate the cutting-edge financial tools available -- including credit cards, apps and budgeting software.

Expert review

The U.S. Bank Business Cash Rewards World Elite™ Mastercard® is an excellent card with a slew of benefits. First, you’ll like the $0 annual fee, solid signup bonus and intro purchase APR. Next, you’ll enjoy 3% cash back in eligible gas, cellular and office supply purchases for as long as you have the card.

A nice touch is the card’s 25% bonus on the cash back you earn each card year. In lieu of bells and whistles you might find with other business cards, this perk is simple but effective.

The perks

  • Annual fee: $0.

    A $0 annual fee makes it easier to keep the U.S. Bank Business Cash Rewards World Elite™ Mastercard® card long term. Many business credit cards come with a $95 annual fee starting the second year, making this one a good option if you don’t want to pay for a card.

  • Signup bonus: $500 cash back.

    When you spend $4,500 on purchases in the first 150 days from account opening using any one card on your account, you’ll receive $500 cash back.

    This signup bonus is comparable to other no-annual-fee cards . But if you want a stronger signup bonus, consider annual-fee business cards: Many offer bonuses of $500 or more.

  • Intro APR: 0% intro APR on purchases and balance transfers for 15 billing cycles.

    You’ll receive a 0% intro APR on purchases and balance transfers for the first 15 billing cycles after opening your account. After that, your APR reverts to 13.99% to 24.99% variable. This is a solid intro APR for a business card.

  • Rewards: Up to 3% cash back.

    Earn 3% cash back on gas purchases of up to $200 and on cellular and office supply purchases. Considering you can earn unlimited cash back, this is a strong rewards rate. Plus, you’ll earn these rewards in a good mix of common business categories.

    On all other eligible purchases, you’ll earn 1% cash back.

  • 25% annual bonus.

    Each year after your card anniversary, you get a bonus worth 25% of your prior year’s cash back. The maximum bonus is $250.

    This perk significantly increases your cashback rate. If you spend a lot, it effectively boosts your 3% cashback rate to 3.75% and your 1% cashback rate to 1.25%.

You’ll also like

  • Customized employee cards.

    Set spending limits by location, place and dollar amount. Further customize when payments are due for employee cards.

What to watch out for

  • Balance transfer limitations.

    To take advantage of the intro APR on balance transfers, you’ll have to request your transfer within the first 30 days from account opening.

  • Potentially high APR.

    Depending on your creditworthiness, you could receive an ongoing purchase and balance transfer APR as high as 24.99% variable.

  • Penalty APR.

    U.S. Bank may raise your purchase, balance transfer and cash advance APR up to 29.99% fixed after one late or returned payment or if you exceed your credit limit two times in 12 consecutive months. This rate applies until you make six consecutive minimum payments on time and don’t exceed your credit limit in that same period.

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Updated November 19th, 2019
Name Product Rewards Purchase APR Annual fee
2% cash back on all purchases on up to $50,000 per calendar year, then 1%
0% intro for the first 12 months (then 14.74% to 20.74% variable)
$0
Earn 2% cash back on all purchases on up to $50,000 per calendar year, then 1%. Rates & fees
2x points on everyday business purchases on up to $50,000 annually, then 1x points
0% intro for the first 12 months (then 14.74% to 20.74% variable)
$0
Earn 2x Membership Rewards® points on everyday business purchases on up to $50,000 with no category restrictions. Rates & fees
3x points on the first $150,000 on travel and select business categories annually, then 1x after and on all other purchases
17.74% to 22.74% variable
$95
80,000 bonus points after you spend $5,000 on purchases in the first 3 months after account opening. That's $1,000 toward travel rewards when you redeem through Chase Ultimate Rewards®
3 cents off per gallon when you buy 30,000 or more gallons in a month plus 3 cents off at the Retail Savings Network
29.24% variable
Up to $120
Earn 3 cents off per gallon when you buy 30,000 or more gallons in a month plus 3 cents off at the Retail Savings Network.
2x miles on Delta purchases and 1x miles on all other purchases
17.24% to 26.24% variable
$0 intro annual fee for the first year ($95 thereafter)
Earn 30,000 miles after spending $1,000 in the first 3 months plus $50 after making a direct Delta purchase in the same timeframe. Rates & fees

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What size business is the U.S. Bank Business Cash Rewards World Elite™ Mastercard® good for?

The U.S. Bank Business Cash Rewards World Elite™ Mastercard® is an excellent choice for businesses of all sizes. It has no annual fee, so it’s accessible to small businesses with tight budgets. It also comes with helpful perks like a signup bonus and an intro purchase APR.

Most notably, the card offers great cash back in common business categories — and your rewards aren’t capped.

What should I know before I apply?

To apply for the U.S. Bank Business Cash Rewards World Elite™ Mastercard®, you must be:

  • At least 18 years old.

Information you’ll need

To complete the application, you’ll provide information about yourself and your business that includes:

  • Your name and contact information, including your email address and phone number.
  • Your Social Security number and date of birth.
  • Financial information like your annual income and ownership percentage of your business.
  • The name of your business, its mailing address and its phone number.
  • Your business type and business structure.
  • Your years in business, gross annual sales and expected monthly cash transactions.
  • Your federal tax ID.

What credit score do I need?

You’ll have a better chance of approval for the U.S. Bank Business Cash Rewards World Elite™ Mastercard® if you apply with an excellent credit score of 740 or higher. If you have a healthy business and excellent credit, your likelihood of approval is strong.

Here are a few other factors that might affect your odds of approval:

  • Hard pulls on your credit report. If you have several hard inquiries — or hard pulls — on your report, it could imply you’re having trouble managing your debt. U.S. Bank might think you’re desperate for credit and may be less likely to take you on as a customer.
  • Factors that tie into your credit score. Your credit utilization is a major factor U.S. Bank considers. The bank prefers a customer with low balances relative to their credit limit. Having many new card accounts may be a red flag too, as it could indicate you’re desperate for credit. It may also give the impression that you’re a flighty customer who’s just hunting for signup bonuses.

Always consider your options and your financial situation before you apply for a credit card.

What do customers say about the U.S. Bank Business Cash Rewards World Elite™ Mastercard®?

U.S. Bank has been accredited with the Better Business Bureau since 1970 and earns an overall B rating. As of June 2018, however, 98% of its reviews are negative — and it has nearly 2,000 customer complaints. U.S. Bank customers in general complain of duplicitous customer service reps, issues disputing charges and inflexible company policies.

The company earns a Trustpilot score of 4.1 out of 10. Many negative reviews cite unhelpful customer service and unethical activities.

How to apply for the U.S. Bank Business Cash Rewards World Elite™ Mastercard®

  1. Click apply now (see rates & fees).
  2. Complete the application with details like your name, address, annual income, Social Security number and business information.
  3. Review and submit your application.

How long will it take to get my U.S. Bank Business Cash Rewards World Elite™ Mastercard®?

Because conditional credit card approval is automated on the website, you may get a decision on your application within minutes. If there are issues with your application, it could take a few days to a few weeks to hear back.

After you’re approved, you’ll typically receive your card by mail within 10 business days.

I got the card. Now what?

  • Make payments on time. Register an account on U.S. Bank’s website to pay your balance online. You can also enroll in autopay.
  • Avoid interest. Late and overlimit fees run as high as $39. Returned payments cost $35 each.
  • Contact customer service. For questions about your account, call the number on the back of your card. Or call 800-872-2657 to reach U.S. Bank’s general help line.

Bottom line

The U.S. Bank Business Cash Rewards World Elite™ Mastercard® is an excellent card, offering several features business owners love. Most notable is the unlimited cash back on eligible gas, cellular and office supply purchases, which are common business categories. And the 25% annual cashback bonus is a lucrative sweetener.

If you’re in the market for features better tailored to your company’s spending, consider other business rewards cards.

Frequently asked questions

Images: USBank.com

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